Bitcoin's value transfer surpasses PayPal, set to rival Mastercard by as early as 2026.

According to reports, a report from Blockdata suggests that the Bitcoin network could potentially equal the value of the Mastercard system in US dollars by as early as 2026 or as late as 2060.

According to a report by Blockdata, the Bitcoin network could potentially match the dollar value transferred on the Mastercard system as early as 2026 or as late as 2060.

In terms of US dollars, Bitcoin's transaction volume has already surpassed PayPal. As the world's largest decentralized cryptocurrency, the Bitcoin network could outpace Mastercard as early as 2026.

The market data platform Blockdata, in its article titled "When will the Bitcoin network reach transaction volumes like Mastercard and Visa?", states that the Bitcoin network processed approximately $489 billion per quarter in 2021, exceeding PayPal's $302 billion. Bitcoin, in just 12 years, accounts for 27% of Mastercard's $1.8 trillion per quarter and 15% of Visa's $3.2 trillion.

Three factors could elevate the total transaction volume processed by the Bitcoin network to the levels of the two major credit card giants: total transaction volume, average amount of Bitcoin sent per transaction, and an increase in the price of Bitcoin.

The first factor—total number of transactions—is the most variable. In theory, if the transfer value of each Bitcoin transaction were to increase by 260% today, its daily transaction volume would match that of Mastercard.

However, the report could not find data indicating an increasing trend in the average amount of Bitcoin sent per transaction. This trend could change in the future, but based on current transaction volumes, a price increase to $245,000 could also make Bitcoin competitive with Mastercard.

Blockdata believes that the price of Bitcoin is unlikely to rise to a level that matches Mastercard. Based on the current growth rate in 2021, this could happen as early as 2026; however, considering the annual average price of Bitcoin, it may not be until 2060.

Although Bitcoin is relatively young, it has already achieved high transaction volumes compared to the two centralized credit card giants.

This article is authorized for reproduction from Horizon News Network.